CNN Money - Sarasota, Florida is 28% Undervalued

CNNMoney.com had an interesting article today about the most over valued and under valued real estate markets in the United States.  You can read the article here or check to see the most over valued and under valued cities list.

Sarasota, Florida was the 18th most undervalued city in the U.S. They figure that we are 28% undervalued. In 2006 CNNMoney.com had a similar article stating that Sarasota was 56% overvalued.

10 most under valued cities

1) Las Vegas, Nev.

2) Vero Beach, Fla.

3) Merced, Calif.

4) Cape Coral, Fla.

5) Houma, La.

6) Port St. Lucie, Fla.

7) Warren, Mich.

8) Vallejo, Calif.

9) Stockton, Calif.

10) Modesto, Calif.

18) Sarasota, Fla.

10 most over valued cities

1) Atlantic City, N.J.

2) Wenatchee, Wash.

3) Ocean City, N.J.

4) Longview, Wash.

5) Honolulu, Hawaii

6) Asheville, N.C.

7) Portland, Ore.

8) Bellingham, Wash.

9) Corvallis, Ore.

10) Salem, Ore.

Inventories continue to decline, sales are rising. Expect to get 5%-10% off of the list price. On average, single family homes are selling for 94% of list price while condos are selling for 93% of list price.

If we can help you buy or sell give us a call at 941.812.6272.